Brandywine Global Investment Management LLC Trims Stake in CoreCivic, Inc. $CXW

Key Points

• Brandywine Global Investment Management LLC reduced its stake in CoreCivic, Inc. by 3.8%, selling 13,010 shares, and now holds approximately 0.30% of the company worth $6.71 million.
• CoreCivic reported a quarterly EPS of $0.59, surpassing expectations, with revenue of $538.17 million, marking a 9.8% increase year-over-year.
• Several investment firms, including Vanguard Group and Allianz Asset Management, have recently increased their holdings in CoreCivic, reflecting a growing interest in the company among institutional investors.

Brandywine Global Investment Management LLC cut its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,754 shares of the real estate investment trust's stock after selling 13,010 shares during the period. Brandywine Global Investment Management LLC owned about 0.30% of CoreCivic worth $6,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Copia Wealth Management bought a new stake in shares of CoreCivic in the fourth quarter worth $82,000. Russell Investments Group Ltd. lifted its holdings in CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after buying an additional 4,315 shares during the period. GAMMA Investing LLC grew its position in shares of CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 470 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after buying an additional 3,646 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of CoreCivic by 29.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock valued at $187,000 after buying an additional 2,113 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Stock Up 1.2%

CoreCivic stock traded up $0.2550 during midday trading on Friday, reaching $20.7050. The stock had a trading volume of 392,045 shares, compared to its average volume of 1,113,480. The company has a market capitalization of $2.22 billion, a P/E ratio of 22.02 and a beta of 0.80. CoreCivic, Inc. has a 12 month low of $12.13 and a 12 month high of $24.99. The company has a fifty day moving average price of $20.71 and a two-hundred day moving average price of $20.68. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The business had revenue of $538.17 million during the quarter, compared to the consensus estimate of $499.02 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on CXW. Jones Trading reaffirmed a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Wedbush restated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $33.33.

Insider Activity

In related news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $21.69, for a total value of $86,760.00. Following the transaction, the director directly owned 82,969 shares of the company's stock, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.